Rakuten Investment Management Inc. Takes $796,000 Position in Evergy Inc. $EVRG

Rakuten Investment Management Inc. purchased a new position in Evergy Inc. (NASDAQ:EVRG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,470 shares of the company’s stock, valued at approximately $796,000.

Several other large investors have also added to or reduced their stakes in EVRG. Chicago Partners Investment Group LLC lifted its position in shares of Evergy by 6.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,479 shares of the company’s stock worth $1,047,000 after purchasing an additional 760 shares during the period. Forvis Mazars Wealth Advisors LLC increased its stake in shares of Evergy by 31.7% in the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 8,793 shares of the company’s stock worth $668,000 after acquiring an additional 2,115 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in Evergy by 19.7% during the 3rd quarter. Sage Mountain Advisors LLC now owns 5,495 shares of the company’s stock valued at $418,000 after acquiring an additional 904 shares during the period. Inscription Capital LLC boosted its stake in Evergy by 138.0% during the third quarter. Inscription Capital LLC now owns 7,284 shares of the company’s stock worth $554,000 after acquiring an additional 4,224 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Evergy in the third quarter worth about $44,000. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Down 0.7%

Evergy stock opened at $75.69 on Friday. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $79.32. The stock has a fifty day simple moving average of $74.40 and a two-hundred day simple moving average of $73.82. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 3.06 and a beta of 0.67.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a net margin of 14.45% and a return on equity of 8.66%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $2.02 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 21st were paid a $0.695 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, November 21st. Evergy’s dividend payout ratio (DPR) is presently 76.16%.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several recent research reports. Wall Street Zen lowered shares of Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. UBS Group lifted their price objective on Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Citigroup boosted their target price on Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Mizuho restated a “neutral” rating and set a $76.00 price target (down from $86.00) on shares of Evergy in a report on Thursday, December 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $91.00 price target on shares of Evergy in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.75.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.